Ola Electric Mobility allots 37.03 crore rights shares

Ola Electric Mobility Limited has allotted 37.03 crore partly paid-up rights equity shares at Rs 27 each, raising its paid-up equity share capital to Rs 4,850.57 crore after the Rs 999.74 crore rights issue was fully subscribed.

What did Ola Electric Mobility allot under its rights issue?

Ola Electric Mobility allotted 37,02,72,665 partly paid-up equity shares to eligible shareholders under its rights issue. The Rights Issue Committee approved the allotment on Monday after the basis of allotment was finalised in consultation with the National Stock Exchange of India, the designated stock exchange for the issue.

Each rights share was issued at Rs 27, comprising a face value of Rs 10 and a premium of Rs 17. Shareholders paid Rs 16.20 per share at the application stage, including Rs 6 towards face value and Rs 10.20 towards share premium. The remaining Rs 10.80 per share is payable through a first and final call under the terms stated in the letter of offer.

The issue was structured to raise up to Rs 999.74 crore, assuming full subscription and receipt of all call monies. The company had approved the issuance of partly paid-up shares for an amount not exceeding Rs 1,000 crore.

How did the Ola Electric Mobility rights issue proceed?

Ola Electric Mobility opened the rights issue on 22 October 2026 and closed it on 30 October 2026. The offering was fully subscribed on Wednesday, two days before the scheduled closing date, and founder Bhavish Aggarwal participated in the issue.

The record date for identifying eligible shareholders was 13 October 2026. Eligible holders received an entitlement of two rights equity shares for every 25 fully paid-up equity shares held on that date. Investors who wanted to qualify for the corporate action needed to purchase the stock by 12 October 2026, according to the stated settlement timeline.

Rights entitlements traded under the symbol OLAELEC-RE from 22 October to 26 October 2026. These entitlements were traded in the trade-to-trade segment in compulsory demat form. Buying a rights entitlement gave an investor the right to apply for the ongoing issue upon payment of the required application money, or to renounce the entitlement before the issue closed.

What are the key figures in the Ola Electric Mobility rights issue?

Ola Electric Mobility's share capital increased by Rs 222.16 crore because the newly allotted partly paid-up shares carry Rs 6 paid-up value per share at this stage. The company’s total paid-up equity share capital rose from Rs 4,628.41 crore before the allotment to Rs 4,850.57 crore after it.

The expanded capital comprises 4,62,84,08,313 fully paid-up equity shares and 37,02,72,665 partly paid-up equity shares. The partly paid-up shares will become fully paid only after the company receives the outstanding call amount of Rs 10.80 per share.

When will Ola Electric Mobility collect the remaining call money?

Ola Electric Mobility will collect the remaining Rs 10.80 per partly paid-up share through a first and final call, expected to be completed on or before 31 October 2027. Until that call is made and paid, the rights shares remain partly paid-up with Rs 6 paid-up per share.

The payment structure means the Rs 27 issue price is not collected in full at the time of application. The initial Rs 16.20 payment funded the paid-up capital addition and part of the securities premium, while the balance is subject to the company making the stated call.

The rights shares were scheduled to be credited to investors’ demat accounts on 3 November 2026 and listed on 4 November 2026 after the 2 November allotment. This sequence follows the issue timetable disclosed by the company before the offer opened.

Why does the allotment matter for Ola Electric Mobility investors?

Ola Electric Mobility has completed the equity allotment stage of a rights issue that can raise nearly Rs 1,000 crore after all call monies are received. Existing shareholders were offered the opportunity to participate in proportion to their eligible holdings, with the two-for-25 entitlement ratio determining the number of rights shares available to each holder.

For investors, the distinction between fully paid and partly paid shares is material. The company has added 37.03 crore partly paid-up shares to its capital structure, while the full Rs 27 issue price will be realised only after the outstanding call money is collected. The stated capital figures reflect the Rs 6 per share paid-up portion, rather than the entire issue price.

The issue also increased the number of outstanding equity shares in the company’s capital structure. Based on the disclosed figures, Ola Electric Mobility now has 499.87 crore equity shares comprising fully paid and partly paid shares, compared with 462.84 crore fully paid-up shares before the allotment.

Conclusion

The rights issue allotment confirms that Ola Electric Mobility has issued 37.03 crore partly paid-up shares at Rs 27 each following full subscription of the offer. The transaction has raised the company’s paid-up equity share capital to Rs 4,850.57 crore, while the full issue proceeds remain linked to payment of the remaining Rs 10.80 per share.

Investors will next watch for the credit and listing of the allotted rights shares, scheduled for 3 November and 4 November 2026 respectively, and for the first and final call. The company has indicated that the call process is expected to be completed on or before 31 October 2027.